i have a dirty bread knife u can use . . . comedy cannot help u

Redux, you are a fraud and jump around like a headless chicken when challenged.  So now, does Greece have a CB in the same light of BoJ of the Feds?

never argued that point with u [or rev] . . . are U dense?

This is priceless! 

The Rev has been busted as a plagiarist. Waaaahhhhh hahahahaha 

HA HA HA HA

 Tarron Khemraj aka TK aka redux

CHECK THIS OUT FOLKS:

* Tarron Khemraj aka TK aka redux has been exposed as a DUNCY.lol

* TK/redux pompously asked the question: "Why is Japan's 235% debt to gdp ratio sustaniable while Greece's is not ?"

* DUNCY TK, a 3rd rate economic professor then gave a muddled, disjointed, convoluted answer to his own question---he exposed himself as a DUNCE.

* The Rev who has never taken an economics course checked out the internet and provided a simple and straightward and answer to TK's question---Japan has a central bank that can print money; Greece cannot print money--so Japan's debt/gdp is sustainable.

* DUNCY TK embarrassed and ashamed by his mumbo jumbo answer then googled and found out where the Rev got his information from---he then tried to conceal his mumbo jumbo answer and his dunceness by accusing the Rev of plagiarism.

* This is a message board---not a college class room---the Rev is no academic--he is just a businessman---so if the Rev borrows ideas from others no biggie.

* DUNCY TK, a man with a 3rd rate economics Phd gave a confused answer to a simple economics question---the Rev with a simple, straightforward answer gotten from some source on the internet exposed TK as a DUNCY.hahahaha

* TK spent donkey years getting his phd and cannot give a clear answer to a simple economics question---the Rev who has never taken an economics course--just pops on the internet and gives a more intelligent answer than DUNCY TK---TK is deeply embarrassed---and starts bawling the Rev plagiarized.

REMEMBER FOLKS:

TK is the one who brags about his intelligence and IQ---his answer to a simple economics question revealed he is a BIG DUNCY---he is now trying to camouflage his dunceness by saying the Rev plagiarized his answer---the Rev is no academic he can copy and paste all he wants--and expose Dr. Tarron Khemrah aka TK aka reduc as a BIG DUNCE.hahahahaha

Rev

I will be writing a column on this soon. I have not done it yet because I am trying to get a concrete estimate of the Petrocaribe debt. 

ahmmm . . . actually THAT would have been a perfectly adequate answer.

unfortunately u liard lil antiman, THAT WASN'T your answer . . . u had to pretend to be 'taller' than u are and reach and teef like here:

[rev's actual answer] ". . . like the US, Japan controls its own currency---it has its own central bank--that means no matter how high Japan's debt to GDP is---a debt default is impossible.

Greece doesn't have a central bank---their debt and interest burdens are therefore a problem.

Another thing regarding Japan, even thought it's debt to GDP is 235%---about half of it is owed to the central bank--what that means is that the interest on that debt owed to the central bank goes back to the treasury."

In the United States---our treasury now receives 80 billion annually from debt held by the Fed."

now, after DARING me to 'put up or shut up,' u blowing plenty smoke out of your ass to confuse everybady . . . using misdirection  . . . reduced to whining:

[rev in abject antiman mode] "This is a message board---not a college class room---the Rev is no academic--he is just a businessman---so if the Rev borrows ideas from others no biggie"

heh heh heh . . . u would have been better served without the platform shoes lil man

I have a Jetblue flight back to Sarasota/Bradenton in the morning. From 7:35AM to 10:46. Make some comments when I am in the air. Thank you 

I guess we can all expect the usual convoluted, mumbo jumbo claptrap from you.hahaha

Like I said to you---you spent donkey years getting that 3rd rate Phd and you still can't present your ideas in a simple and straight forward manner.

Anyway, let the forum know when your article comes out---it will be fun reading and critiquing the drivel you present.

And yes--the Rev will be stealing from sources on the internet to further expose and uncover your shallowness.hahahaha

Rev

Rev

roger dat

This discussion started with a comparison of Guyana's Public Debt in 1992 (US$2 billion) and 2013 (US$1.7 billion).

We've learnt the following:

   (i) The 1992 debt level was a much higher percentage of GDP than the       2013's

   (ii) The level of Guyana's debt to GDP ratio is high by comparison with   

     similar-sized economies

   (iii) Most of the 1992 debt was written off in negotiations with the Paris 

     Club and in bilateral negotiations. This was done under the Dr. Jagan's

     Presidency.

   (iv) The current debt accumulation grew under the Jagdeo regime when 

     it was professed that the macro-economic infrastructure, destroyed

     under Burnham, was in working shape.

The subjective contributions can be analyzed with the facts on the ground as well as statistics.

We know that both debt accumulations were part of a loan-led strategy for economic development. The foreign private investment wasn't eschewed because both the Burnham and Jagdeo regimes were against it, but because political circumstances mitigated against this healthy investment-led growth.

In Burnham's case he had nationalized the "commanding heights of the economy". There were tremendous inefficiencies in the local economic infrastructure (disincentives and raping of state assets).

In Jagdeo's time there was civic instability due to the mo fiah slo fiah campaign and the drug violence following the Mash 2002 jail breakout. While Burnham's time benefited from commodities' price hikes in 1974 - 76, Jagdeo;s time benefited from surges in mineral prices (especially gold). Jagdeo's local economic infrastructure gave rise to land reforms and infrastructure rebuilding. The former helped the private sector and latter is what governments do. An argument can be made that one similar statistic is the (mis)use of State assets under both regimes.

It comes down to how well can the loans be serviced without curtailing needed infrastructural investment (sea defenses, irrigation, roads, hospitals, etc.), and whether these are loans that pay off in revenues (Skeldon sugar estate, the hydro power investments, etc.). The developed economies' debt-to-GDP versus those of poorer countries is misplaced. This is about micro-Economics and political leadership. Both of these were found wanting under Burnham and the same questions face the Jagdeo legacy. Was Jagdeo a good economic steward? Did he face conditions on the ground (like the mid-2000s violence, floods, etc.) that were not of his making? Or is he found wanting in leadership to overcome this? For answers there are those who point to synergy with the narco-violence (Roger Khan), contracts being awarded on a corrupt basis (BK) and State assets being squandered (the Leonora estate sale).

The debate continues.................

====

The country central banks of the EU are still in existence. For example, the Germans still have the Bundesbank. These former central banks are branches of the European Central Bank. They don't issue their old currencies anymore. So yes their old central banks still exist but as a member bank of ECB. The Bundesbank is very powerful, BTW.  

====

You've got to be really good to get a contract (get paid) to pass the anonymous review process to get an original book accepted. Five anonymous referees already verified its original nature. They don't hand out contracts like that. 

You've got be very good to be asked to have a column space. Why don't you see them in Stabroek News and other peer-reviewed outlets.

Understand the point originally raised.  You are talking what we all know, no need to "educate" me on that.  The discussion was managing national debt using levers like BoJ and the Feds have.  These "central banks" no longer have this.  So, they may be called Central Banks, but they are not full central banks in the true sense.

The Bundes is powerful as it represents the German agenda and Germany is the largest and most powerful EU member economy.  The Germans have huge influence over the policies of the ECB, thus the power of the Bundes bank.  However, with all it's power, the Bundes is still beholden to the poicies of the ECB.

===

They are units of the ECB. They have to help defend the ECB interest rate target. For them to do that they must all do open market operations.

You are an Economist but dont knoe Economics, how the hell you gun kno Banking and Finance???? Abee Canecutta gat Commom Sense.

baseman, you created a fake issue . . . that was NOT the discussion

re-review the thread

Classic move Nagas, the tamil tiger.  You mek shattie poop his pants. 

Dear Editor,

Leon Trotsky reminded us that the “depth and strength of human character are defined by its moral reserves.” Reading Dr Ashni Singh’s statement in the Guyana Chronicle, one is flummoxed by the attempt to distort the truth by someone who ought to know better.  Is this the core skills-set of ministers these days?

While the Minister would want to submit himself to measuring the debt in US dollar terms, he cannot disregard the right of the Guyanese people to know the Guyana dollar amount of the National Debt.  After all, the people of Guyana do not earn US dollar salaries. Would it be an act of insurrection if the people are informed of the debt figure in Guyana dollars?  If the Minister disputes these Guyana dollar figures, all he has to do is present an alternative number for scrutiny.  There is no need to dive into the gutter. Attacking Mr Moses Nagamootoo will not save the nation from the burden we all have to carry as a people since no organization of repute, be it the IMF or the World Bank or even the ordinary man trusts the accuracy of the figures coming out of the government.

To date Minister Singh has not disputed the fact that the government was responsible for borrowing of $93 billion more in debt than the PNC left us in 1992.  This revelation by Mr Nagamootoo has forever buried the myth that the PNC borrowed more than the PPP. And we have not even considered all the pipeline debt that Mr Jagdeo lined up hurriedly before he vacated office.

Why run on public TV and try to defend the indefensible?  It is a national shame and disgrace that the government has failed the people, and most importantly destroyed the vision of Cheddi Jagan who was committed to a lean and clean administration.

Please find below a more comprehensive picture of the debt situation:

National Budget and the Bank of Guyana Quarterly Bulletin

Why 2007?  That was the year when Guyana had the lowest debt position under the PPP.  The year 2007 exposes how much has been borrowed over the last five years: $202 billion at an average of $40 billion per year.
If one is to look at 2012 versus 1992 then the debt per each child born in Guyana went up to $543,440 in March 2012.  For those in the working class, this is more than one year’s wages.

We call on the AFC and civil society to engage in a campaign of mass education of the people on the issue in every village, dam and street.  Walter Rodney did this in 1979 and Burnham buckled then. It is time for Freedom House to buckle under people’s power. The people, especially the  Indians and Amerindians must be informed of the reasons why a vote for the PPP is a vote for economic destruction.

Yours faithfully,
Dr. Asquith Rose
Harish S Singh